Citi analyst James Shuck downgraded Direct Line Insurance to Sell from Neutral with a price target of 142 GBp, down from 194 GBp. The analyst now values the European insurance sector on equity risk premiums rather than price-to-earnings ratios and has concerns over Direct Line’s recent deterioration in motor underwriting profitability.
Published first on TheFly
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Read More on DIISY:
- Direct Line Insurance price target lowered to 185 GBp from 220 GBp at JPMorgan
- Direct Line price target lowered to 170 GBp from 225 GBp at Deutsche Bank
- Direct Line Insurance upgraded to Hold from Reduce at HSBC
- HSBC downgrades Direct Line to Reduce, says dividend at risk
- Direct Line Insurance downgraded to Reduce from Hold at HSBC
